Building Details

Buildings 1

Listing Agency: Hamilton Real Estate Show Phone

Listed By: Ari Kolas Show Phone

Source: Moodyscre

Added: Jan 12 Changed: Oct 25 Last Checked: Oct 30 at 11:37AM

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Investment Insights

Based on property information with market context.

This 1,890 SF commercial building offers flexible office or medical space across two levels. The upstairs includes 900 SF with four offices and has been newly remodeled with bright, natural light. The 990 SF downstairs suite features three private rooms, a restroom, and a break room.

The property has a shared upper-level entrance and a private lower-level entrance, providing separate access options for the two suites. It is located within a professionally managed business condominium complex at 3131 Superior Dr NW in Rochester, Minnesota.

Key Highlights

• 1,890 SF commercial building with office or medical space
• Upstairs 900 SF includes 4 offices and is newly remodeled
• Downstairs 990 SF suite includes 3 private rooms, restroom, and break room

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,828

Cap Rate

8.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$696,560 $696.6K

Cap Rate 7%

$497,543 $497.5K

Cap Rate 9%

$386,978 $387.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,890 SF

Gross rent

$51.0K $27.00/SF

− Vacancy

−$4.6K −$2.43/SF

EGI

$46.4K $24.57/SF

− OpEx

−$11.6K −$6.14/SF

NOI

$34.8K $18.43/SF

Area

Rochester, MN

Vacancy

9.00%

Lease Rate

$27.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$696,560

Cap Rate 7%

$497,543

Cap Rate 9%

$386,978

Alternative Uses

Best Use

Office B

$497.5K

$435.4K – $580.5K (±1% cap)

NOI $34,828 @ 7.0% cap · market cap 8.19%

Second Best

Healthcare Medical

$335.9K

$293.9K – $391.9K (±1% cap)

NOI $23,515 @ 7.0% cap · market cap 5.53%

Theoretical Best

Office A

$727.9K

$637.0K – $849.3K (±1% cap)

NOI $50,956 @ 7.0% cap · market cap 11.99%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

VACAVA (Bike/Boat/Book/etc) Store rochester mn electrolysis Alternative Medicine Practice Resolve Counselor Edward Jones - Financial ... Financial Advisor Edward Jones - Financial ... Financial Advisor

Suggested Use

Top Pick Auto Repair Shop Auto Parts Store Garden Center Hair Salon HVAC Service Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Office units

Location Intelligence

Trade Area within ½ mile

729

Businesses Nearby

Explore this area Business Placement

Demographics for 55901, MN

58,046

Population

24,852

Households

2.3

Avg Household Size

36

Median Age

50%

College-Educated

94%

High-School Grad

33.1 sq mi

ZIP Area

1,754

Density / Sq Mi

$90,430

Median Household Income

$52,778

Median Earnings

$1,321

Median Rent

$290,000

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - Two-level configuration includes private rooms, restroom, and break room for office or medical use.

Where is this office unit located?

The property is located at 3131 Superior Dr NW Rochester, MN.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: 1,890 SF commercial building with office or medical space; Upstairs 900 SF includes 4 offices and is newly remodeled; Downstairs 990 SF suite includes 3 private rooms, restroom, and break room